hapman Company obtains $100$ percent of Abernethy Company$$s stock on January $1,2023.$ As of that date, Abernethy has the following trial balance:

Items Debit Credit

Accounts payable $-$ $ $55,800$

Accounts receivable $ $42,500-$

Additional paid$-$in capital $-50,000$

Buildings $($net$)(4-$year remaining life$)209,000-$

Cash and short$-$term investments $67,250$

Common stock $-250,000$

Equipment $($net$)(5-$year remaining life$)357,500-$

Inventory $136,000-$

Land $114,000-$

Long$-$term liabilities $($mature $12/31/26)-168,500$

Retained earnings, $1/1/23-414,650$

Supplies $12,700-$

Totals $ $938,950$ $ $938,950$

During $2023,$ Abernethy reported net income of $$104,500$ while declaring and paying dividends of $$13,000.$ During $2024,$ Abernethy reported net income of $$137,750$ while declaring and paying dividends of $$34,000.$

Assume that Chapman Company acquired Abernethy$$s common stock by paying $$921,650$ in cash. All of Abernethy$$s accounts are estimated to have a fair value approximately equal to present book values. Chapman uses the partial equity method to account for its investment.

Required:

Prepare the consolidation worksheet entries for December $31,2023,$ and December $31,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first accoun